2025-09-30-accounts - The Valentine Charitable Trust

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`Trustees:`		`MrD J E Neville-Jones`
		`MrR A Gregory`
		`MrP J Leatherdale`
		`MrM DP` `Lewis`
		`MrsC E Neville-Jones`
		`MrsF Normington-Simith`
		`MrsS C K` `Patterson`
		`MrsS J Ridley`
		`MrM T O` `Stanley`
`PrincipalAddress:`		`Hinton House,HintonRoad,`	`BournemouthBHI2EN` `.`
`Auditors:`		`Fletcher& Partners,Crown`	`Chambers,BridgeStreet,SalisburySP12LZ`
`Advisers:`
`Bankers`		`LloydsBankpic,45-47Old`	`ChristchurchRoad,BournemouthBHI1ED`
`Solicitors`		`PrestonRedman,HintonHouse,HintonRoad,BournemouthBH!2EN`
`Investment`	`Managers`	`CharlesStanley& Co.Ltd,`	`2WestoverRoad,BournemouthBHI2BY`
		`RathbonesincorporatingInvestecWealth& Investment(UK),`
		`MidlandHouse,2 Poole Road,BournemouthBH2SQY`
	`_``.`	`JamesHambro& Partners,`	`45PallMall,LondonSWIYSIG`
`CharityNumber:`		`RegisteredCharityNumber`	`1001782`

		`Unrestricted`	`Unrestricted`	`Total`	`Total`
	`Notes`	`CapitalFund`	`IncomeFund`	`Funds`	`Funds`
		`2025`	`2025`	`2025`	`2024`
		`£`	`£`	`£`	`£`
`INCOMEANDENDOWMENTSFROM:`
`Investmentincome`	`2)`	`-`	`1,280,003`	`1,280,003`	`1,309,554`
`Legacies`	`3`	`26,729`	`-`	`26,729`	`-`
`TotalIncome`		`26,729`	`1,280,003`	`1,306,732`	`1,309,554`
`EXPENDITUREON:`
`Charitableactivities`	`4`	`-`	`1,130,500`	`1,130,500`	`1,145,500`
`Supportcosts`	`5`	`-`	`74,538`	`74,538`	`70,357`
`Costsofraisingfunds`	`6`	`77,233`	`77,233`	`154,466`	`131,994`
`TotalExpenditure`		`77,233`	`1,282,271`	`1,359,504`	`1,347,851`
`Netincome/(expenditure)`		`(50,504)`	`(2,268)`	`(52,772)`	`(38,297)`
`Realised(loss)/gainoninvestmentassets`		`(21,905)`	`-`	`(21,905)`	`773,078`
`Realised(loss)/gainonsocialinvestments`		`-`	`-`	`-`
`Unealised(loss)/gainoninvestmentassets`		`2,454,996`	`-`	`2,454,996`	`2,600,362`
`NETMOVEMENTINFUNDS`		`2,382,586`	`(2,268)`	`2,380,319`	`3,335,143`
`RECONCILIATIONOFFUNDS`
`FundBalancesbroughtforward`	`13/14`	`40,204,167`	`175,667`	`40,379,834`	`37,044,691`
`FundBalancescarriedforward`	`13/14`	`£42,586,753`	`£173,399`	`£42,760,153`	`£40,379,834`

	`Notes`	`2025`	`2024`
		`£`
`FIXEDASSETS`
`Tangiblefixedassets`	`8`	`1,059,058`	`1,059,058`
`Investments`	`9`	`40,022,446`	`37,138,981`
`Socialinvestments`	`10`	`442,500`	`442,500`
		`41,524,004`	`38,640,539`
`CURRENTASSETS` `Debtors` `Cashatbankandinhand`	`11`	`154,500` `1,150,063`	`113,986` `1,696,309`
		`1,304,563`	`1,810,295`
`CREDITORS: amountsfallingdue`
`withinoneyear` `Creditors`	`12`	`(68,414)`	`(71,000)`
`NETCURRENTASSETS`		`1,236,149`	`1,739,295`
`NETASSETS`		`£42,760,153`	`£40,379,834`
`Representing` `:`
`UNRESTRICTEDFUNDS` `Capitalfund`	`13/14`	`42,586,754`	`40,204,167`
`Incomefund`	`13/14`	`173,399`	`175,667`
		`£42,760,153`	`£40,379,834`

			`2025`		`2024`
			`£`	`£`	`£`	`£`
`CASH`	`FLOWSFROMOPERATINGACTIVITIES`
	`Netcashprovidedby(usedin)`
	`operatingactivities`	`a`		`(1,402,604)`		`(1,322,441)`
`CASH`	`FLOWSFROMINVESTINGACTIVITIES`
	`Purchaseofinvestments`		`(9,365,172)`		`(13,386,775)`
	`Proceedsfromthesaleofinvestments`		`8,914,798`		`14,008,653`
	`Dividendsreceived`		`954,031`		`1,052,571`
	`Interestreceived`		`318,875`		`249,886`
	`Rentalincomereceived`		`7,097`		`7,097`
	`Netcashprovidedby(usedin)`
	`investingactivities`			`829,629`		`1,931,432`
`CASH`	`FLOWSFROMFINANCINGACTIVITIES`
	`CapitalfromMACottonEstate`			`26,729`		`=`
	`Loanadvanced`			`a`		`(192,500)`
`CHANGEINCASHANDCASHEQUIVALENTS`
	`INTHEREPORTINGPERIOD`			`(£546,246)`		`£416,491`
`Cash`	`andcashequivalentsatthebeginning`
	`ofthereportingperiod`			`1,696,309`		`1,279,818`
`Cash`	`andcashequivalentsattheend`
	`ofthereportingperiod`			`£1,150,063`		`£1,696,309`
`NOTESTOTHECASHFLOWSTATEMENT`
`a.`	`Reconciliationofnetincome/(expenditure)`
	`withnetcashflowfromoperatingactivities`			`2025`		`2024`
				`£`		`£`
	`Netincome/(expenditure)forthereportingperiod`
	`(asperthestatementoffinancialactivities)`			`2,380,319`		`3,335,143`
	`Adjustmentsfor:`
	`Dividendsandinterestfrominvestments`			`(1,280,003)`		`(1,309,554)`
	`Legacy income`			`(26,729)`		`-`
	`Unrealised(Profit)/lossoninvestments`			`(2,454,996)`		`(2,600,362)`
	`(Profit)/lossondisposalofinvestments` `(Increase)/decreaseindebtors`			`21,905` `(40,514)`		`(773,078)` `105`
	`Increase/(decrease)increditors`			`(2,586)`		`25,305`
	`Netcashflowprovidedby(usedin)operatingactivities`			`(£1,402,604)`		`(£1,322,441)`
`b.`	`Componentsofcashandcashequivalents:`
				`2025`		`2024`
				`£`		`£`
	`Cashatbankandinhand`			`£1,150,063`		`£1,696,309`

				`2025`	`2024`
				`£`	`£`
	`Dividends`			`954,03}`	`1,052,571`
	`Interest`			`318,875`	`249,886`
	`Rentalincome`			`7,097`	`7,097`
				`£1,280,003`	`£1,309,554`
`3.`	`DONATIONSANDLEGACIES`
				`2025`	`2024`
	`Residual`	`distrbutionfromMissMACotton'sestate`		`26,729`	`-`
				`£26,729`	`£0`
`4.`	`CHARITABLEACTIVITIES`
				`2025,` `£`	`2024` `£`
	`Grantsto`	`institutions`		`1,130,500`	`1,145,500`
				`£1,130,500`	`£1,145,500`
	`Detailedgrantawards` `AccessDorset` `AgeConcernNorthDorset` `AgeUKNorth,South& WestDorset` `AIMCommunity` `AndrewSimpsonSailingFoundation` `Artsreach` `ArtWorkshop(Swanage& Purbeck)` `~~AsthmaReliefCharity“0` `BankofDreamsandNightmares` `BlackmoreValeCharity` `TheBolehTrust` `BourneFoundation` `BournemouthCommunityChurch` `BournemouthFoodBank` `BournemouthSymphonyOrchestra` `BournemouthUniversity` `ChangingTunes` `ChaseAfrica` `ChesilSailability` `ChesilSailingTrust` `ChildinNeedIndia(CIN!)UK` `ChildofHope` `CitizensAdviceBridport& District` `CitizensAdvice BureauCentralDorset` `CitizensAdvice BureauEastDorset& Purbeck` `TheColourWorksFoundation` `CreativeKids` `CrumbsProject` `DeerviewEquineInterventions`		`a`	`2025` `£` `5,000` `5,000` `5,000` `15,000` `10,000` `5,000` `-` `5,000` `.` `20,000` `5,000` `7,500` `10,000` `-` `10,000` `.` `10,000` `15,000` `5,000` `10,000` `5,000` `6,000` `-` `10,000` `10,000` `6,500` `15,000` `15,000` `8,500`	`2024` `£` `10,000` `-` `.` `15,000` `10,000` `5,000` `1,000` `itinnnnnte` `5,000` `-` `5,000` `10,000` `10,000` `15,000` `20,000` `5,000` `-` `20,000` `5,000` `5,000` `4,000` `10,000` `10,000` `10,000` `20,000` `-` `15,000` `10,000` `5,000`
	`CarriedForward`			`218,500`	`225,000`

`Grantsawardedintheyear(continued)`	`2025`	`2024`
	`£`	`£`
`Broughtforward`	`218,500`	`225,000`
`DementiaSupportHampshire& IOW`	`-`	`5,000`
`Dentaid`	`15,000`	`-`
`DisabledSailorsAssociation`	`5,000`	`-`
`DiverseAbilitiesPlus`	`7,500`	`15,000`
`DorchesterArts`	`5,000`	`10,000`
`DorchesterFamilySupport`	`10,000`	`7,500`
`DorchesterKeepMilitaryMuseumTrust`	`5,000`	`-`
`DorchesterPovertyAction`	`-`	`6,000`
`DorsetArchivesTrust`	`7,500`	`7,500`
`DorsetBlindAssociation`	`10,000`	`15,000`
`DorsetCancerCareFoundation`	`-`	`10,000`
`DorsetChildrensFoundation`	`-`	`10,000`
`DorsetMind`	`-`	`10,000`
`DorestOpera`	`5,000`	`5,000`
`DorsetParent &InfantPartnership(DorPip)`	`5,000`	`5,000`
`DorsetRaceEqualityCouncil`	`-`	`5,000`
`DorsetReadingPartners`	`6,000`	`6,000`
`DorsetScrapstore`	`10,000`	`5,000`
`DorsetYouthAssociation`	`15,000`	`15,000`
`EllenMacArthusCancerTrust`	`-`	`10,000`
`EmeraldAntCIC`	`-`	`5,000`
`Escapeline`	`5,000`	`-`
`EssentialDrug& AlcoholService`	`-`	`1,000`
`FaithworksWessex`	`15,000`	`15,000`
`FaithworksWessex- FinancialResilience`	`5,000`	`-`
`FarmingandWildlifeAdvisoryGroupSouthWest`	`-`	`3,000`
`FootprintsProject`	`10,000`	`10,000`
`FriendsofDolphin`	`-`	`10,000`
`FriendsofDorsetCountyHospital`	`5,000`	`-`
`Game& WildlifeConservationTrust`	`-`	`10,000`
`GatewayChurchPoole`	`-`	`10,000`
`GillinghamCommunityandLeisureCentreTrust`	`10,000`	`-`
`GillinghamCommunityChurch`	`10,000`	`6,000`
`HappyDaysChildren'sCharity`	`5,000`	`-`
`HarmonyCentre`	`-`	`5,000`
`HealthBus`	`20,000`	`15,000`
`HelpfulHounds`	`5,000`	`5,000`
`Home-StartBlackmoreVale`	`15,000`	`-`
`Home-StartWessex`	`15,000`	`15,000`
`HopeforFood`	`12,000`	`-`
`HopeHousingTraining& SupportLtd`	`10,000`	`10,000`
`HopeintoAction(HIA)BCP`	`10,000`	`5,000`
`Horatio’sGarden`	`5,000`	`5,000`
`Horsecourse(The)`	`-`	`10,000`
`ImmanuelChurchSouthbourneURC`	`-`	`5,000`
`IndependentArts`	`-`	`5,000`
`InspireFoundation`	`10,000`	`10,000`
`InternationalCareNetwork`	`20,000`	`-`
`InJollyGoodCompany`	`5,000`	`-`
`CarriedForward`	`516,500`	`532,000`

`Grantsawardedintheyear(continued)`		`2025`			`2024`
		`£`			`£`
`Broughtforward`		`516,500`			`557,000`
`JonEggingTrust`		`10,000`			`20,000`
`KoestlerArts`		`5,000`			`5,000`
`Lewis-ManningHospice`		`10,000`			`20,000`
`LifeEducationWessex`		`5,000`			`5,000`
`ListeningBooks`		`7,500`			`7,500`
`LiveMusicNow`		`-`			`5,000`
`LivingPaintings`		`7,500`			`6,000`
`LymeRegisBoatBuildingAcademy`		`20,000`			`20,000`
`LymeRegis(Philpot)MuseumTrust`		`-`			`5,000`
`MacDougallTrust`		`20,000`	`te`		`-`
`Maddie'sMiracle`		`5,000`	`Me`		`-`
`MarineConservationSociety`		`10,000`	`10,000`
`MARSTrust(The)`		`10,000`	`a`		`-`
`MedicalAidforPalestinians`		`15,000`	`me`	`~`	`°.40,000`
`MichaelsLimited`	`7`	`10,000`			`—`
`MidDorsetMencap`		`-`	`ae`		`5,000`
`Monty’sCommunityHub`		`10,000`	`.`	`~~~`	`10,000`
`MOSAIC`		`15,000`	`oe`		`15,000`
`MowlemInstitute`		`12,000`			`-`
`MyTimeYoungCarers`		`15,000`			`15,000`
`NewForestBasicsBank`		`10,000`			`10,000`
`NewForestBikeProject`		`5,000`			`-`
`NewOpportunitiesforCommunitySupport`		`-`			`5,000`
`NorthDorsetBeekeepersAssn`		`-`			`5,000`
`NourishCommunityFoodbank`		`10,000`			`-`
`OmbeijaYehingaOrganisationTrust`		`10,000`			`10,000`
`OutlandOpera`					`2,000`
`TheParksFoundation`		`10,000`			`10,000`
`PathwaysforAllPeople`		`15,000`			`15,000`
`PavilionDanceSW`		`10,000`	`:`		`10,000`
`PeopleFirstDorset` `5,000` `....` `~pooleCominumitiesTrust’OD`					`-` `o0O`
`PooleFoodbank`		`15,000`			`16,000`
`PooleTownPastors`		`1,000`			`-`
`PooleWasteNotWantNot`		`16,000`			`10,000`
`PortlandSeaCadets`		`-`			`10,000`
`PositivePathFoundation`		`-`			`5,000`
`PowerHouse`		`10,000`			`-`
`PramaLIFE`		`10,000`			`15,000`
`PrimeTimeKidsClub`		`5,000`
`PurbeckArtWeeksFestival`		`5,000`			`5,000`
`PurbeckFilmFestival`		`-`			`5,000`
`PurbectYouth& CommunityFoundation`		`10,000`
`PurbeckYouthMusic`		`2,000`			`-`
`React`		`3,500`			`3,500`
`ReadEasyBridport`		`-`			`500`
`ReadEasyUK`		`10,000`			`10,000`
`Recoop`		`5,000`			`-`
`CarriedForward`		`870,000`			`872,500`

`Grantsawarded`	`theyear(continued)`	`2025`	`2024`
		`£`	`£`
`Brought`	`forward`	`870,000`	`847,500`
	`RexCinema`	`-`	`10,000`
	`RotaryParkstone`	`3,500`	`-`
	`RoutestoRoots`	`10,000`	`-`
	`RussellCotesArtGallery`	`-`	`5,000`
	`SafeandSoundDorset`	`10,000`	`15,000`
	`SA-YesMentoring`	`5,000`	`-`
	`SalisburyHospiceCharity`	`5,000`	`5,000`
	`Schoolreaders`	`-`	`10,000`
	`SecondChance`	`10,000`	`10,000`
	`SexualTraumaandRecoveryServices`	`10,000`	`-`
	`SHINE`	`5,000`	`5,000`
	`ShineProject`	`-`	`10,000`
	`ShrineHall(Dorchester)Trust`	`5,000`	`-`
	`SMILEConnect`	`10,000`	`-`
	`SomerfordARCCommunityTrust`	`15,000`	`10,000`
	`SomerfordYouth& CommunityCentre`	`15,000`	`15,000`
	`SpeciesRecoveryTrust`	`-`	`5,000`
	`SpringheadTrust`	`5,000`	`-`
	`SSAFAArmedForcesCharity`	`5,000`	`-`
	`StJohn& RedCrossDefenceMedicalWelfareService`	`15,000`	`10,000`
	`StJohnofJerusalemEyeHospitalGroup`	`10,000`	`-`
	`StableFamilyHomeTrust`	`-`	`10,000`
	`StepstoActiveRecovery`	`15,000`	`10,000`
	`StormbreakCIO`	`20,000`	`20,000`
	`SuttonPoyntzMissionHallManagement`	`-`	`5,000`
	`SwanageSeaRowingClub`	`-`	`5,000`
	`SwanageSkateparkCommunityProject`	`-`	`10,000`
	`TalkaboutTrust`	`-`	`6,500`
	`TallShipsYouthTrust`	`-`	`10,000`
	`TownsendYouthPartnership`	`8,000`	`-`
	`TreesforDorset`	`3,000`	`-`
	`TroubadourStageworks`	`1,000`	`-`
	`TruthBeTold`	`5,000`	`5,000`
	`UKSailingAcademy`	`10,000`	`10,000`
	`UniversityHospitalsDorsetNHSCharity`	`-`	`15,000`
	`UpsandDownsSW`	`5,000`	`5,000`
	`VeracityCommunityHub(StMary'sPCC)`	`5,000`	`7,500`
	`VeteransHubWeymouth& Portland`	`-`	`10,000`
	`VisionWimbourneDiala ride`	`-`	`1,500`
	`VitaNova`	`10,000`	`10,000`
	`WetwheelsHamble`	`-`	`2,500`
	`WeymouthSkatepark`	`15,000`	`-`
	`WheelsforFreedom`	`-`	`10,000`
	`Willdoes`	`-`	`5,000`
	`YMCA(Bournemouth)`	`15,000`	`15,000`
	`Youth ResourceServices`	`10,000`	`15,000`
		`1,130,500`	`1,145,500`

`5.`	`Supportcosts`
			`2025`		`2024`
			`£`		`£`
	`Administrativecosts`		`63,994`		`60,193`
	`Bankcharges`				`90`
	`Governancecosts`		`10,544`		`10,074`
			`74,538`		`70,357`
	`Governancecostscomprise:`
			`£`		`£`
		`Auditandadvisoryfees`	`8,925`	`,`	`8,500`
		`Trusteesindemnityinsurance`	`1,619`	`ot`	`1,574`
		`.`	`10,5440`		`10,074`
	`FletcherandPartnerscharged£8,925forthepreparationandaudit` `wasfortheaudit.` `_a` `Se` `,`		`ofthesefinancialstatements,£6,000ofwhich` `_` `a`
`6.`	`Costsofraising`	`funds`
	`Thesecomprise`	`investmentmanagementfees,`

				`Freehold`	`property`
`COST`			`ee`	`£`
	`At`	`1October2024`	`Sa!`	`1,059,058`
	`Additions`		`Ps`		`-`
	`Disposals`		`to`		`-`
`~`	`At`	`30September2025`	`o`	`1,059,058`

			`2025`	`2024`
`Listed`	`shareportfolio`		`£`	`£`
	`Marketvalueasat`	`\|October2024`	`37,138,981`	`34,387,419`
	`Additions`		`9,365,172`	`13,386,775`
	`Disposalproceeds`		`(8,914,798)`	`(14,008,653)`
	`Realised(losses)/gainsondisposal`		`(21,905)`	`773,078`
	`Unrealised(losses)/gainsonrevaluation`		`2,454,996`	`2,600,362`
	`Marketvalueasat`	`30September2025`	`£40,022,446`	`£37,138,981`

		`2025`	`2024`
		`£`	`£`
`Original`	`costasat30September2025`	`£31,142,483`	`£29,827,165`
		`2025`	`2024`
		`£`	`£`
`Analysis`	`oflistedinvestments`
	`Fixedinterestsecurities`	`8,032,983`	`7,526,415`
	`Unittrusts`	`13,604,405`	`15,287,803`
	`Equityshares`	`15,819,133`	`11,883,419`
	`Other`	`2,576,741`	`2,441,344`
		`£40,033,262`	`£37,138,981`

`redtobematerial.`
				`£`	`£`
`FidelityInvestmentsFundsFidelityEU`	`Fund`		`IAcc`	`506,387`
`NextpleOrd10p`				`513,666`
`PolarCapitalGlobalTechnologyFundI`	`£`	`Inc`	`(Ire)`	`565,037`
`FindlayParkFundsICAVAmericaUnhedged`				`546,116`
`iSharesplcCoreFTSE100SharesInc`				`544,132`
`JPMorganAmUKLtdUKEquityInc`				`639,979`
`LiontrustFundPartnersEuropeanDynamic`		`Fund`		`619,868`
`AvivaInvestorsUKUSEquityIncIi2`	`Inc`	`Nav`		`633,089`	`624,595`
`JPMorganAmUKLtdUSEquityIncome`				`662,085`	`618,963`
`SchroderStrategicCreditFundL £ Inc`				`624,035`	`615,678`
`BlackrockSterlingLiquidityFund£ Inc`	`(Ire)`				`757,000`
`ArtemisFdMngrsincomeinstitutional`				`500,536`	`801,806`
`UBSAssetManagement(UK)LtdUSEquity`			`CAccount`		`357,195`
`FILInvestServEuropeanGBPAcc`					`490,622`
				`£6,354,930`	`£4,265,859`

				`2025`			`2024`
				`£`			`£`
`Accrualsanddeferred`	`income`			`68,414`			`60,000`
`Grantcreditor`				`-`			`11,000`
				`68,414`			`71,000`
`.Analysisofnetassetsbetweenfunds`
`Fundbalancesat30September2025`		`were`	`representedby`	`thefollowingassets`	`andliabilities:`
		`Unrestricted`		`Unrestricted`	`..Total`		`Total`
		`CapitalFunds`		`incomeFunds`	`Funds`		`Funds`
			`2025`	`2025`	`2025`		`2024`
	`CE`			`£`	`£`		`£`
`Tangiblefixedassets`			`41,524,004`	`-`	`41,524,004`		`38,640,539`
`Currentassets`	`“2...`		`1,062,750`	`241,813`	`1,304,563`		`1,810,295`
`Currentliabilities`			`-`	`(68,414)`	`(68,414)`		`(71,000)`
			`42,586,754`	`173,399`	`42,760,153`		`40,379,834`
`,Fundmovements`
	`Balance`				`Gain/(loss)on`		`Balance`
`2025`	`30.09.2024`		`Income`	`Expenditure`	`Investments`		`30.09.2025`
	`£`		`£`	`£`	`£`		`£`
`Unrestrictedfunds`
`Capitalfund`	`40,204,167`		`26,729`	`(77,233)`	`2,433,091`		`42,586,754`
`Incomefund`	`175,667`		`1,280,003`	`(1,282,271)`	`-`		`173,399`
	`40,379,834`		`1,306,732`	`(1,359,504)`	`2,433,091`		`42,760,153`
	`Balance`				`Gain/(loss)on`		`Balance`
`2024pvt` `3Q.09,2023` `cece`			`TneomeoorExpenditureooo` `DTnvestments`			`-`	`30.09.202400`
	`£`		`£`	`£`	`£`		`£`
`Unrestrictedfunds`
`Capitalfund`	`36,896,724`			`(65,997)`	`3,373,440`		`40,204,167`
`Incomefund`	`147,967`		`1,309,554`	`(4,281,854)`			`175,667`
	`37,044,691`		`1,309,554`	`(1,347,851)`	`3,373,440`		`40,379,834`